CANBERRA, ACT, May 27 -- The Treasurer of Australia issued the following media release:
New figures from the Australian Bureau of Statistics show that inflation moderated in April by more than expected.
The moderation in today's figures was better than the median expectation of the market.
While this tick down in inflation is welcome, it remains much higher than we'd like and that's why it's a big focus for the government.
We already had an inflation challenge in our economy before the conflict in the Middle East, but the war is making it worse and today's data shows that.
Even after recent developments, the impacts of the conflict will continue to linger in the global economy and we're not immune from that here in Australia.
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